Teknos has completed the acquisition of industrial coatings business from Feidal Coatings

Teknos has completed the acquisition of industrial coatings business from Feidal Coatings

Teknos has completed the acquisition of industrial coatings business from Feidal Coatings announced on 12 May 2016.

Feidal Coatings is a German, privately held company that develops, produces and sells paints and coatings. Feidal Coatings' business divisions include industrial coatings and decorative paints. Feidal’s industrial coatings business estimated net sales is €18m and has approximately 80 employees. The transaction includes acquisition of Feidal GmbH & Co. KG, Brüggen factory and industrial coatings business from Feidal Polska Sp. z.o.o. The Brüggen factory will continue manufacturing industrial metal paints.

“The acquisition of industrial coatings business from Feidal Coatings strengthens our position in general industry coatings. We will now focus on building the business forward in close cooperation to ensure high quality and improved service level to our customers”, says Paula Salastie, CEO, Teknos Group Oy.

The parties have agreed that the value of the transaction will remain undisclosed.